Analysts Offer Predictions for Maxim Integrated Products, Inc.’s Q1 2018 Earnings (NASDAQ:MXIM)
Maxim Integrated Products, Inc. (NASDAQ:MXIM) – Analysts at KeyCorp issued their Q1 2018 EPS estimates for shares of Maxim Integrated Products in a research report issued to clients and investors on Thursday. KeyCorp analyst M. Mcconnell forecasts that the semiconductor company will post earnings of $0.55 per share for the quarter. KeyCorp also issued estimates for Maxim Integrated Products’ Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.34 EPS, Q1 2019 earnings at $0.62 EPS and Q2 2019 earnings at $0.59 EPS.
Other equities analysts have also recently issued reports about the company. B. Riley reiterated a “neutral” rating and set a $44.00 target price on shares of Maxim Integrated Products in a research note on Friday, April 21st. BidaskClub lowered Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $47.00 price target (up from $45.00) on shares of Maxim Integrated Products in a research report on Monday, April 24th. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target (up from $44.00) on shares of Maxim Integrated Products in a research report on Friday, April 14th. Finally, Maxim Group started coverage on Maxim Integrated Products in a research report on Friday, June 16th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $47.61.
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Maxim Integrated Products (NASDAQ:MXIM) opened at 45.10 on Monday. The firm has a market capitalization of $12.75 billion, a PE ratio of 22.78 and a beta of 1.04. The stock has a 50 day moving average of $46.55 and a 200-day moving average of $45.01. Maxim Integrated Products has a one year low of $37.25 and a one year high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $602 million for the quarter, compared to analysts’ expectations of $609.52 million. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.45%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of MXIM. Quantitative Systematic Strategies LLC acquired a new position in shares of Maxim Integrated Products during the second quarter worth approximately $237,000. Duncker Streett & Co. Inc. raised its position in shares of Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after buying an additional 500 shares during the period. APG Asset Management N.V. raised its position in shares of Maxim Integrated Products by 55.2% in the second quarter. APG Asset Management N.V. now owns 388,958 shares of the semiconductor company’s stock worth $17,464,000 after buying an additional 138,325 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in shares of Maxim Integrated Products during the second quarter worth approximately $1,239,000. Finally, First Quadrant L P CA acquired a new position in shares of Maxim Integrated Products during the second quarter worth approximately $15,744,000. 89.44% of the stock is currently owned by institutional investors.
In other news, CEO Tunc Doluca sold 12,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $44.49, for a total transaction of $533,880.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph R. Bronson sold 18,300 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $45.08, for a total value of $824,964.00. The disclosure for this sale can be found here. Insiders sold 241,548 shares of company stock worth $11,148,556 over the last ninety days. 1.30% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 3.19%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 66.33%.
Maxim Integrated Products declared that its Board of Directors has approved a share repurchase plan on Thursday, July 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Maxim Integrated Products Company Profile
Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.
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